Commerzbank: share down after interim results
(CercleFinance.com) - The Commerzbank share is down 2.
9% in Frankfurt on Wednesday morning, after the German bank published H1 2019 net profit that is down 27% at 391 million euros, in addition to operating profit that is down 18% at 542 million euros.
H1 revenues fell by 2.5% to 4.28 billion euros, with "This development was primarily due to the marked drop in the fair value result mainly in the Corporate Clients segment".
Commerzbank expects to report a slight increase in FY net income, "although this target has become significantly more ambitious," the group said, particularly citing the noticeable worsening of the macroeconomic situation and increasing geopolitical uncertainty.
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